NZDUSD on Tuesday rose 2.19% to 0.60100. Why it matters.

NZDUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	2.19%	129 Pips
Week to-date	2.08%	122.2 Pips
November	3.6%	208.6 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics

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What can we expect from NZDUSD today?

NZDUSD on Tuesday rose 2.19% to 0.60100. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for NZDUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 0.6061 with break above could target R2 at 0.61121 or figure level area. While towards the downside, we are looking at daily low of 0.58631 as an important support. Break below this level could weaken the current bullish momentum. A break above 0.60131 may suggest continuation after recent positive movement.

For the week to-date, take note that NZDUSD is bullish as the pair continued to trade higher and is up by 2.08% over the past few days.

Key levels to watch out:

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